Shree Laxmi Marketing (P) Ltd. v. Acit

119 ITD 390Income Tax Appellate Tribunal2008#22263 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Judgments citing Shree Laxmi Marketing (P) Ltd. v. Acit

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), NEW DELHI, DELHI vs. ANAND NVH PRODUCTS PVT LTD, DELHI

ITA 3612/DEL/2024[2016-17]Status: DisposedITAT Delhi26 Sept 2025AY 2016-17

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

Section 35

…l profit before remuneration was decreasing by year to year but on the other hand salary paid to its directors has increased substantially. The A.O has also relied on the decision of ITAT Pune in the case of Shri Laxmi Marketing Pvt. Ltd vs. ACIT, Pune (2009) 119 ITD 390 Pune & DCIT vs. M/s. Liberty Phosphate Ltd., ITA No.2997/Ahd./2009 wherein it was held that excessive and unreasonable remuneration paid to the directors without maintaining consistency is not allowed. On the other hand, the appellant submitted that the remuneration paid to the directors is as per its Board resolution which was submitted before t…

THE BOMBAY SAMACHAR P.LTD,MUMBAI vs. DCIT CIR 2(1), MUMBAI

In the result, the appeal of assessee is allowed

ITA 5683/MUM/2014[2011-12]Status: DisposedITAT Mumbai09 Apr 2019AY 2011-12

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Jeet Kamdar, ARFor Respondent: Shri Asghar Zain V.P, DR

Section 143(3)Section 147Section 40A(2)(b)

…आयकर अपीलीय अधिकरण “B” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 5683/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2011-12) The Bombay Samachar The Dy. Commissioner of Private Limited Income Tax, Circle 2(1), Red House, Sayed Abdulla Vs. Mumbai Brelvi Road, Horniman circle, Fort, Mumbai-400 023 .. (p`%yaqaaI- / Respondent) (ApIlaaqaI- / Appellant) स्थायी लेखा िं./PAN No. AAACT1340B अपीलाथी की ओर े / Appellant by : Shri Jeet Ka…

DCIT 2(1)(1), MUMBAI vs. THE BOMBAY SAMACHAR P.LTD, MUMBAI

In the result, Revenue’s appeal is dismissed

ITA 35/MUM/2016[2008-09]Status: DisposedITAT Mumbai24 Oct 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Percy Pardiwala, Sr. CounselFor Respondent: Shri Chaudhary Arun Kumar Singh

Section 2(22)(e)Section 271(1)(c)Section 40A(2)(a)

…s of the Departmental Authorities. He also relied upon the following decisions:– i) Nund & Samont Co. P. Ltd. v/s CIT, [1970] 78 ITR 268 (SC); ii) CIT v/s Shatrunjay Diamonds, [2003] 261 ITR 258 (Bom.) and iii) Shree Laxmi Marketing (P) Ltd. V/S Acit, [2008] 119 ITD 390 (Pn.). 7. We have considered rival submissions and perused materials on record. We have also applied our mind to the decisions relied upon by both the parties. Before we proceed to decide the validity of the disallowance made under section 40A(2)(a) of the Act in the assessment years under appeal, it is necessary and relevant to look into the pr…